| Amendments proposed to the Finance Bill, As Amended - continued | House of Commons |
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Mr Michael Howard 15 Page 246, line 8 [Schedule 20], after 'other', insert 'transitional'.
Mr Michael Howard 16 Page 246, line 9 [Schedule 20], leave out 'appear to them appropriate in consequence of abolition' and insert 'are necessary or reasonably incidental to effect the replacement'.
Mr Michael Howard 17 Page 246, line 13 [Schedule 20], leave out 'appear to the Treasury to be appropriate' and insert 'are necessary or reasonably incidental to the replacement of stamp duty except on instruments relating to stock and marketable securities; but any such provision or any such regulation which is not necessary or reasonably incidental to such purpose shall not take effect.'.
Mr Michael Howard 18 Page 246, line 15 [Schedule 20], leave out 'annulment in pursuance of a' and insert 'an affirmative'.
Mr Michael Howard 13 Page 251, line 9 [Schedule 21], at end insert 'and insert "or 4 (in respect of shares acquired under approved CSOP schemes pursuant to rights granted before 9th April 2003)".'.
Mr Michael Howard 14 Page 251, line 14 [Schedule 21], after 'schemes)', insert 'pursuant to rights granted on or after 9th April 2003'.
Mr Michael Howard 19 Page 251, line 22 [Schedule 21], at end insert 'pursuant to a right acquired on or after that date.'.
Mr Michael Howard 20 Page 252, line 10 [Schedule 22], at end insert 'provided that nothing in this part will apply to any securities, interests in securities or securities options acquired as part of a larger transaction effected for the purposes of acquiring or making an investment in a trade or business.'.
Mr Chancellor of the Exchequer 114 Page 278, line 6 [Schedule 22], leave out 'In a case within subsection (1)(a),'.
Mr Chancellor of the Exchequer 115 Page 279, line 33 [Schedule 22], leave out '428(3)' and insert '428(9)'.
Mr Chancellor of the Exchequer 116 Page 310, line 7 [Schedule 22], after 'sections', insert '421(2) and'.
Mr Chancellor of the Exchequer 117 Page 310, line 9 [Schedule 22], after 'for', insert 'the acquisition of'.
Mr Chancellor of the Exchequer 118 Page 310, line 20 [Schedule 22], at end insert—'"the employer (in Chapter 5 of Part 7) section 471(5)",'.
Mr Chancellor of the Exchequer 119 Page 314, line 8 [Schedule 22], leave out from 'Table,' to 'insert' in line 9 and insert 'at the appropriate place'.
Mr Chancellor of the Exchequer 120 Page 321, line 2 [Schedule 22], leave out '428(3) and (6)' and insert '428(6) and (9)'.
Mr David Chaytor
109 Page 371, line 31 [Schedule 31], at end insert—
'Part 7EXPENDITURE ON ENERGY EFFICIENCY TECHNOLOGY RESEARCH 25 (1) The Chancellor of Exchequer must within one year and annually thereafter produce a report on fiscal measures to promote research and development in low carbon energy efficency technology.(2) Low carbon efficiency technology includes
Mr Howard Flight 111 Page 376, line 30 [Schedule 33], after '82A', insert 'and for "83AB" substitute "83AC"'.
Mr Howard Flight 110 Page 377, line 22 [Schedule 33], after 'by', insert 'section 83AC or'.
Mr Chancellor of the Exchequer 121 Page 378, line 29 [Schedule 33], leave out sub-paragraph (6) and insert—
(6C) And for the purposes of subsection (6B) above a potential advantage is conferred on the reinsurer by the contract if, taking the contract as "the actual provision" for the purposes of Schedule 28AA to the Taxes Act 1988, the effect of making the actual provision instead of the arm's length provision (within the meaning of that Schedule) would have in relation to the reinsurer the effect specified in paragraph 5(1)(b) of that Schedule.".'.
Mr Chancellor of the Exchequer 122 Page 381, line 11 [Schedule 33], at end insert—'(15) The references in subsections (8), (12) and (13) above to an amount being brought into account—
(17) For the purposes of subsections (15) and (16) above—
Mr Howard Flight 112 Page 381, line 38 [Schedule 33], at end insert—'5A(1)In the Finance Act 1989 (c. 26), after section 83AB insert— "83AC Mutual surplus: application of section 83(2) (1) This section applies in relation to any company where an amount brought into account as other income for a period of account represents relevant mutual surplus. (2) Subject to subsection (3) below, where an amount mentioned in subsection (1) above is brought into account as other income for a period of account that amount is to be regarded as other income of the company for the purposes of section 83(2)(d) only to the extent that it comprises—
(4) In this section: "mutual surplus" means the excess of the fair value of the assets of a mutual life assurance company immediately before the relevant demutualisation over its liabilities at that date determined in accordance with section 5 of the Prudential Sourcebook (Insurers). "relevant demutualisation" means a transfer to the company of the whole or any part of the business carried on by a mutual life assurance company. "relevant mutual surplus" means so much of the mutual surplus as is transferred to the company on a relevant demutualisation. "mutual life assurance company" means a company without share capital carrying on life assurance business.".'.
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